Banks Love Trump Even If It Isn’t Mutual

Lenders globally have rallied on election outcome

President-elect Donald Trump supposedly doesn’t care about Wall Street. It is ironic then that the world’s biggest banks are rallying on his victory.

The spur looks to be his promised spending and tax cutting drive, which is beginning to reshape yield curves and monetary policy expectations in the U.S. and beyond. However, investors shouldn’t get overexcited: Rates have a long way to go before borrowing short and lending long becomes...